The Trade Credit Automation company (and BETA alumni) will retain all personnel.
(Via Business Wire) TreviPay, a leader in global B2B payments and invoicing solutions, today announced the signing of a definitive agreement to acquire payment platform Apruve. Apruve offers a robust suite of payment solutions for global enterprises that will complement and expand on TreviPay’s existing order-to-cash technology offerings, merchant invoicing solutions, and the geographical reach of TreviPay’s existing B2B networks. TreviPay has experienced unprecedented demand from global enterprise buyers and sellers resulting in 30% organic growth in 2022, and this acquisition furthers TreviPay's plans to expand its order-to-cash technology offerings and B2B payment network. This acquisition builds on TreviPay’s recent purchase of Baton Financial Services.
“TreviPay provides payment and invoicing solutions for a number of leading manufacturers and OEMs; the acquisition of Apruve will accelerate our advancement in the technology manufacturing vertical and expand our geographic reach into key Asian markets,” said Brandon Spear, CEO of TreviPay. “In Apruve, we have found a team that approaches the market in a likeminded way and shares our vision of simplifying the way B2B suppliers get paid. We anticipate a seamless transition as Apruve brings their customers to TreviPay, and as we continue to provide innovative ways for B2B customers to buy more with invoice-based purchasing.”
TreviPay offers tailored payments and invoicing networks responding to the needs of businesses of all sizes. The TreviPay networks automate the order-to-cash process with omni-channel checkout options, localized B2B invoicing engineered for global expansion, managed receivables and fraud and risk management. TreviPay, which boasts 90,000 buyers and 80,000 seller locations globally, empowers merchants and suppliers to create more profitable and loyal trading relationships.
“We are thrilled to join TreviPay, a global leader in optimizing order-to-cash processes,” said Michael Noble, CEO of Apruve. “Our teams have tremendous synergies and will more efficiently go to market together in the technology manufacturing vertical.”
All Apruve personnel will be retained and Apruve clients can expect uninterrupted service from the same teams. The financial terms of the transaction will remain confidential.
“Looking ahead, I am energized by the opportunities for TreviPay to continue solving challenges in B2B invoicing and payments in a number of industries,” said Spear. “Following a global digital transformation trend that was accelerated by the pandemic, B2B industries are focusing attention on how money flows in the B2B ecosystem. We are helping B2B merchants in manufacturing and many other industries to digitize the more complex payments and invoicing processes for their business buyers.”
TreviPay is the global B2B payments and invoicing network built to optimize trade between buyers and sellers. With more than four decades of experience building networks, TreviPay is the preferred B2B payment method of corporate buyers and sellers globally, processing $7 billion in transaction volume across 32 countries, 19 currencies and 90,000 active buyers. TreviPay gives clients the power to offer trade credit, and is trusted by major brands – with 80,000 selling locations – to deliver invoices with net terms and guaranteed payment across all sales and distribution channels. TreviPay has created the only fully managed payment and invoicing network to support B2B commerce of the future. For more information, visit trevipay.com.
Apruve builds Trade Credit Automation programs for global enterprises seeking to make transformative change in their procure-to-pay process. Apruve is the only provider that combines A/R automation with guaranteed next-day financing on all open invoices. With Apruve, B2B suppliers in local or international markets can reduce fixed costs in A/R by over 50%, shorten DSO to one day, and create an efficient purchasing experience for their customers. To learn more, visit apruve.com.